Home Good Retailer With 262 Locations in 40 States Files For Bankruptcy

At Home Group, once a thriving home décor chain, has filed for bankruptcy, blaming crushing debt and trade tariffs for its collapse. The company is now turning over control to creditors as it shutters stores and tries to restructure.

Key Facts:

At Home Group filed for Chapter 11 bankruptcy in Wilmington, Delaware, with plans to eliminate nearly $2 billion in debt.
Lenders including Redwood Capital and Anchorage Capital will take over ownership and inject $200 million in new capital.
The Texas-based retailer will close at least 26 of its 250+ stores and conduct liquidation sales.
At Home cited Trump-era tariffs and its reliance on foreign suppliers as major factors in its downfall.
The company carries about $2.4 billion in debt following a 2021 private equity buyout by Hellman & Friedman.

The Rest of The Story:

At Home Group’s bankruptcy marks another blow to the brick-and-mortar retail sector.

The company, known for selling furniture, wall art, and home accessories, plans to hand control to major creditors and shed billions in debt.

Under the proposed deal, Redwood Capital Management and other investors will exchange debt for equity and provide $200 million in fresh financing.

CEO Brad Weston stated the company is using the bankruptcy process to “fully de-lever our balance sheet” to remain competitive.

But the retailer’s problems go deeper.

CFO Jeremy Aguilar pointed directly at tariffs, saying in court filings that “At Home…was—and remains—significantly impacted by these tariff policies.”

As the company reorganizes, 26 stores will close, and Hilco Merchant Resources will lead liquidation sales.

A broader restructuring will also shift supply sourcing away from China to countries like Vietnam, India, and Turkey.

Commentary:

At Home’s bankruptcy should serve as a warning sign for traditional retailers clinging to outdated business models.

This wasn’t just a case of bad timing or bad luck.

It’s the result of a system stretched too far—by debt, by tariffs, and by failure to adapt quickly enough to a changing world.

For years now, retail giants have struggled under the weight of rising e-commerce.

Customers who once spent weekends strolling store aisles now click a button and get faster delivery, better prices, and wider variety—without leaving the house.

At Home, like so many others, couldn’t keep pace.

What’s worse, the company’s heavy dependence on imports made it especially vulnerable to tariff policies.

Nearly half of its products came from overseas suppliers.

That kind of exposure becomes a ticking time bomb when trade tensions escalate.

Then there’s the debt.

The $2.4 billion in liabilities wasn’t built overnight.

It came from a private equity deal that didn’t prepare the business for future shocks.

It’s a familiar story: big money moves in, leverages the company to the hilt, and leaves it ill-equipped to survive lean years.

The current market doesn’t reward excess.

Retailers need to be lean, adaptable, and deeply in tune with shifting consumer habits.

Instead of innovating, At Home sank under the weight of its own inventory and old assumptions about customer loyalty.

To survive today, a physical retailer must offer something online giants can’t—unique in-store experiences, strong branding, or rapid responsiveness to trends.

Without those, stores like At Home are just warehouses with overhead, fighting Amazon with both hands tied behind their backs.

More retail collapses are likely in the coming years.

High interest rates, shifting demand, and global instability all threaten companies that haven’t evolved.

At Home may not be the last, but its fall should be a loud wake-up call for others.

The Bottom Line:

At Home Group’s bankruptcy reflects the larger collapse of traditional retail models weighed down by debt, global sourcing risk, and failure to innovate.

Brick-and-mortar chains face immense pressure from online competitors and changing shopping habits.

Unless they modernize quickly and stay financially lean, many will follow the same path.